https://www.taxtmi.com/circulars?id=8348 Where capital gains are reported but not yet reinvested while the assessee intends to claim statutory exemption later, administrative guidance requires: if sale proceeds have been received the assessee should pay tax on normal time limits; if proceeds have not been received the assessing officer need not extend payment deadlines formally and should withhold penalty while non-receipt continues, but collection and penalty enforcement may proceed once proceeds are received. en-us Wed, 26 Sep 1973 00:00:00 +0530 Thu, 02 Dec 2010 15:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8348 Where capital gains are reported but not yet reinvested while the assessee intends to claim statutory exemption later, administrative guidance requires: if sale proceeds have been received the assessee should pay tax on normal time limits; if proceeds have not been received the assessing officer need not extend payment deadlines formally and should withhold penalty while non-receipt continues, but collection and penalty enforcement may proceed once proceeds are received. Circulars Income Tax Wed, 26 Sep 1973 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8348